BITQ vs. FDIG

Last updated Jul 15, 2026

BITQ (Bitwise Crypto Industry Innovators ETF) and FDIG (Fidelity Crypto Industry and Digital Payments ETF) are both Blockchain funds - BITQ tracks the Bitwise Crypto Innovators 30 Index while FDIG tracks the Fidelity Crypto Industry and Digital Payments Index. Both are passively managed. Over the past 3 years, BITQ returned 31.35%/yr vs 19.63%/yr for FDIG. With a 0.96 correlation, they move nearly in lockstep. BITQ charges 0.85%/yr vs 0.39%/yr for FDIG.

Performance

BITQ vs. FDIG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise Crypto Industry Innovators ETF (BITQ) and Fidelity Crypto Industry and Digital Payments ETF (FDIG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BITQ achieves a 18.26% return, which is significantly higher than FDIG's 8.21% return.

BITQ

• 1D: 1.68%
• 1M: -11.99%
• 6M: -0.04%
• YTD: 18.26%
• 1Y: 10.66%
• 3Y*: 31.35%
• 5Y*: 4.48%
• 10Y*: —

FDIG

• 1D: 1.16%
• 1M: -5.73%
• 6M: -5.21%
• YTD: 8.21%
• 1Y: 9.34%
• 3Y*: 19.63%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BITQ vs. FDIG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BITQ Bitwise Crypto Industry Innovators ETF	18.26%	18.00%	46.97%	246.83%	-76.04%
FDIG Fidelity Crypto Industry and Digital Payments ETF	8.21%	19.92%	18.41%	166.00%	-59.37%

Correlation

The correlation between BITQ and FDIG is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (All Time) Calculated using the full available price history since Apr 21, 2022	0.96

The correlation between BITQ and FDIG has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

BITQ vs. FDIG - Sectors Allocation Comparison

Sectors	BITQ	FDIG
Financial Services	71.6%	55.6%
Technology	25.5%	38.2%
Consumer Cyclical	2.9%	1.6%
Basic Materials	-	-
Communication Services	-	0.7%
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	3.1%
Real Estate	-	-
Utilities	-	0.9%

Return for Risk

BITQ vs. FDIG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BITQ

BITQ Risk / Return Rank: 13
BITQ Sharpe Ratio Rank: 12
BITQ Sortino Ratio Rank: 16
BITQ Omega Ratio Rank: 15
BITQ Calmar Ratio Rank: 12
BITQ Martin Ratio Rank: 12

FDIG

FDIG Risk / Return Rank: 13
FDIG Sharpe Ratio Rank: 12
FDIG Sortino Ratio Rank: 15
FDIG Omega Ratio Rank: 14
FDIG Calmar Ratio Rank: 12
FDIG Martin Ratio Rank: 11

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BITQ vs. FDIG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Crypto Industry Innovators ETF (BITQ) and Fidelity Crypto Industry and Digital Payments ETF (FDIG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BITQ	FDIG	Difference
Sharpe ratio: Return per unit of total volatility	0.19	0.19	0.00
Sortino ratio: Return per unit of downside risk	0.67	0.62	+0.06
Omega ratio: Gain probability vs. loss probability	1.08	1.07	+0.01
Calmar ratio: Return relative to maximum drawdown	0.24	0.20	+0.04
Martin ratio: Return relative to average drawdown	0.49	0.37	+0.12

BITQ vs. FDIG - Sharpe Ratio Comparison

The current BITQ Sharpe Ratio is 0.19, which is comparable to the FDIG Sharpe Ratio of 0.19. The chart below compares the historical Sharpe Ratios of BITQ and FDIG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BITQ vs. FDIG - Drawdown Comparison

The maximum BITQ drawdown since its inception was -90.32%, which is greater than FDIG's maximum drawdown of -61.35%. Use the drawdown chart below to compare losses from any high point for BITQ and FDIG.

Drawdown Indicators

	BITQ	FDIG	Difference
Max Drawdown Largest peak-to-trough decline	-90.32%	-61.35%	-28.97%
Max Drawdown (1Y) Largest decline over 1 year	-44.99%	-46.69%	+1.70%
Max Drawdown (3Y) Largest decline over 3 years	-51.22%	-49.66%	-1.56%
Max Drawdown (5Y) Largest decline over 5 years	-90.32%	—	—
Current Drawdown Current decline from peak	-27.30%	-28.33%	+1.03%
Average Drawdown Average peak-to-trough decline	-52.23%	-27.47%	-24.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.02%	25.48%	-3.46%

Volatility

BITQ vs. FDIG - Volatility Comparison

Bitwise Crypto Industry Innovators ETF (BITQ) has a higher volatility of 12.18% compared to Fidelity Crypto Industry and Digital Payments ETF (FDIG) at 10.36%. This indicates that BITQ's price experiences larger fluctuations and is considered to be riskier than FDIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITQ	FDIG	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.18%	10.36%	+1.82%
Volatility (6M) Calculated over the trailing 6-month period	42.48%	36.48%	+6.00%
Volatility (1Y) Calculated over the trailing 1-year period	57.13%	50.30%	+6.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.31%	60.66%	+6.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	67.04%	60.66%	+6.38%

BITQ vs. FDIG - Expense Ratio Comparison

BITQ has a 0.85% expense ratio, which is higher than FDIG's 0.39% expense ratio.

Dividends

BITQ vs. FDIG - Dividend Comparison

BITQ has not paid dividends to shareholders, while FDIG's dividend yield for the trailing twelve months is around 1.51%.

Position	TTM	2025	2024	2023	2022	2021
BITQ Bitwise Crypto Industry Innovators ETF	0.00%	0.00%	0.90%	1.51%	0.00%	3.12%
FDIG Fidelity Crypto Industry and Digital Payments ETF	1.51%	1.14%	1.17%	0.18%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BITQ and FDIG in my portfolio?

With a correlation of 0.97, BITQ and FDIG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BITQ or FDIG?

BITQ has higher volatility (12.18%) compared to FDIG (10.36%). In terms of maximum drawdown, BITQ dropped -90.32% vs FDIG's -61.35%.

Which ETF is better, BITQ or FDIG?

On 3-year performance, BITQ leads with 31.35% vs 19.63% for FDIG. On fees, FDIG is cheaper at 0.39% per year. On volatility, FDIG has been the lower-risk option at 10.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BITQ or FDIG?

Over the 3-year period, BITQ has performed better with a 31.35% return vs 19.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BITQ or FDIG?

FDIG is cheaper with a 0.39% expense ratio, compared with 0.85% for BITQ.

Which ETF pays a higher dividend yield, BITQ or FDIG?

FDIG has the higher dividend yield at 1.51%, compared with 0.00% for BITQ.

What is the main difference between BITQ and FDIG?

BITQ tracks Bitwise Crypto Innovators 30 Index, while FDIG tracks Fidelity Crypto Industry and Digital Payments Index. They also come from different issuers: Bitwise and Fidelity. Their fees differ too: 0.85% for BITQ and 0.39% for FDIG.

Which has better risk-adjusted returns?

BITQ currently has the higher Sharpe Ratio (0.19 vs 0.19), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.